The New Jersey Health Care Facilities Financing Authority tomorrow will head to market with $150 million of state-backed, fixed-rate bonds that will help finance the consolidation of acute-care services in northern New Jersey.

This will be the authority's third Hospital Asset Transformation Program deal, in which the state agrees to guarantee the debt if the bond sale will facilitate the closing of an acute-care center to help lower the state's high number of vacant hospital beds. The HCFFA then receives monthly payments from the hospital borrowers to reimburse the state for debt service costs.

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